The sales of cosmetic products in India is increasing robustly because of the Increasing purchasing power and disposable income, urbanization, growing awareness about beauty products and manufacturers aggressively pushing products in rural areas of India. Affordability and rising consumer are also responsible for high cosmetic sales.
According to recently published report of Bonafide Research “India Cosmetic Market Outlook, 2021”, cosmetic market in India was growing with a CAGR of 17.06% over past few years. Urban India leads the market, with more than four fifth of the cosmetic segment consumption by volume. Many domestic and international companies are now targeting the rural markets to push volume sales in categories like lip and nail care, and some mass skin care products as well.
The cosmetics and beauty sector are now experiencing drastic changes like costly international beauty products are selling quickly. The biggest beauty evolution in recent times is men have started their healthier skin routine away from the gym. The rise in men’s salons is evidence to the fact.
As per The Associated Chambers of Commerce and Industry of India ASSOCHAM, consumption of cosmetics in India for each person is approximately US Dollar 0.68 cents as compared to US Dollar 40 in Hong Kong, US Dollar 12 in Japan, and US Dollar 1.5 in China.
Consumption of these products targets on young women with the age group 15 to 44 years accounting for about 70% of the market. Consumption begins in the teens and tapers off after 45, and declines substantially after the age of 55.
Heavy competition has resulted in an increase in the range of new products being introduced for newer application concepts in the last few years. Low and medium-priced categories account for almost 85-90% of the cosmetics market in terms of volume.
International News and views Corporation
Other News
Imports of High-Value Medical Equipment
High-Value Medical Equipment The Central Drugs Standard Control Organization (CDSCO) and the Central Board of Indirect Taxes & Customs have released a new circular, “F.No.401/40/2021-Cus.III,” detailing updated policies on the import of used high-end medical […]
Read MoreSEC Committee: Pioneering Medical Approvals
New important article released by Central Drugs Standard Control Organization (CDSCO) titled “SEC – Special Expert Committee, Medical Devices”. Key highlights include the streamlined processes for CDSCO application evaluations, preparation and significance of briefing materials, […]
Read More
ErlySign Oral Cancer Detection Technology Gets CDSCO Nod
ErlySign, a Nagpur-based biotech startup, has received approval from the Central Drugs Standard Control Organization (CDSCO) to conduct large-scale clinical trials for its novel oral cancer detection technology. The approval for ErlySign follows a rigorous […]
Read MoreAdditional Steps Announced by FDA to Modernize Clinical Trials
The U.S. Food and Drug Administration has made draft guidance available with updated recommendations for good clinical practices (GCPs), which are intended to modernize the clinical trial design and conduct while maintaining data integrity and […]
Read MoreAccreditation and Registration Numbers for Foreign Manufacturers Publication by PMDA
This article deals In accordance with the Pharmaceuticals and Medical Devices Act (PMD Act) of Japan, foreign businesses that wish to produce pharmaceuticals, quackery products, active pharmaceutical ingredients (APIs), or medical devices abroad and import […]
Read MoreBSI New Certification to Mitigate Antimicrobial Resistance Risk in Antibiotic Manufacturing
BSI, the business improvement and standards company, has developed a new certification to mitigate the risk of antimicrobial resistance (AMR) in antibiotic manufacturing. The certification, called the Minimized Risk of Antimicrobial Resistance (AMR) certification, will […]
Read More
TUV SUD Inspects IVD Medical Devices’ Cyber Security
The growing digital connectivity of medical infrastructure is resulting in complicated systems with a plethora of diverse interfaces that are potentially vulnerable to assault. The IVD requires producers to provide proof of cyber security before […]
Read More
TGA Supports MHRA’s New Regulations
The TGA made a commitment to support the MHRA‘s new Regulations worldwide recognition framework for pharmaceuticals. Following the UK’s exit from the European Union, a new international recognition framework for medicines has been developed specifically […]
Read More
